What is the FairLife Charity

The FairLife Charity is improving everyone’s lives by improving the finance products we use everyday (e.g. loans, mortgages, savings, pensions) and promoting financial education.

  • A fair trading initiative for all areas of finance
  • A route to companies that price honestly and trade fairly with their customers

The charity's FairLife Mark spans all areas of finance:

  • Fair trading ensures that what you buy is fairly traded and honestly priced
  • Financial education helps you to save money and choose what you need with confidence
  • Social impact encourages firms to help you in areas other than trading

These three areas are complimentary.  Each on its own is much less effective. It’s about building knowledge and trust; knowledge to know what you need and trust in the products you rely on.

The FairLife Charity is fully independent and is being gifted to the nation by passing ownership to other leading charities and not-for-profits.  Current owners include The National Union of Students and AdviceUK.  Money raised by licencing the FairLife Mark is used to teach financial education in the country's schools and to promote good personal finance from school to retirement.

What is fairly traded and honestly priced?

  • Prices you can trust with no sneaky fees
  • Not using the industry's strength to profit from your weaknesses

Fair trading is defined in dictionaries as the act of trading legally, fairly and honestly.  It is most valuable when one group is much weaker than the other (such as you dealing with a bank).  By trading fairly the stronger group chooses not to exploit the weaker one.  

It means an end to sneaky fees and rip-off penalty charges.  An end to profiting from people's misfortunes and vulnerabilities.  Many good firms want to rid their industry of these practises, but to do it they need your help (see About/Why it's Needed).

Pricing honestly means going a step further than fair trading.  It's a commitment to profit only from helping customers. Material profit is made only from features of the product or service that you expect to pay for when the purchase is made.  These are the positive features that sales people tend to focus on.   Any extra fees or charges, caused by situations you hoped would never occur, are designed to only cover additional costs and not to generate additional profits.

Three things the FairLife Mark does not say:

  1. A product is best value.
  2. A product is suitable for you.
  3. Individuals are not responsible for their own financial decisions.

A bad choice may lead to a bad outcome regardless of the FairLife Mark. So still do some checking.

The FairLife Mark will lead to a fairer society where effort is rewarded but nobody is exploited.  Together with financial education this will help everyone to live happier lives and plan for their futures with confidence.

The FairLife Mark is on your side